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What Is Treasury Management and Why Does My Small Business Need It?

What Is Treasury Management and Why Does My Small Business Need It?

Money Management
SouthEast Bank| October 25, 2021
What Is Treasury Management and Why Does My Small Business Need It?

If you’re a small business owner, you know how challenging it can be to manage your company’s finances. Tracking your profits and losses, planning for future expenditures, and figuring out if you have enough capital to expand your business can be difficult on your own. That’s where treasury management comes into play. 

Many banks offer treasury management services, tools that help you to streamline your business finances and plan for the future. 

What Is Treasury Management? 

Treasury management tools are designed to meet several different commercial banking needs. Whether you’re looking for help organizing, planning or controlling your business finances, these solutions can help you accomplish your goals.

Banks understand that there’s no one-size-fits-all financial solution for businesses. That’s why most institutions offer a variety of treasury management tools, so you can select the ones that work best for your company. They can help identify areas that need improvement, make the best use of available funds, reduce risk and more.

SouthEast Bank offers treasury management solutions designed with local businesses in mind. Here are a few of the options available to small business owners and entrepreneurs:

How Does Treasury Management Help Small Businesses? 

As a small business owner, you’re required to juggle many different tasks, which can become exhausting. But by using treasury management services, you can simplify everyday money management and improve your business functions in the following ways: 

Increase Efficiency

If you’re running a small business, there’s never enough time in the day. Why create more work for yourself (or your employees)? Treasury management services can streamline some of your tasks, allowing you to get more done in less time. 

For example: 

Boost Revenue

If your business only accepts cash or debit payments, you could be missing out on a substantial amount of income. In a 2019 study, the Federal Reserve Bank of San Francisco found that about 23% of all consumer transactions are paid for with credit cards — and that number is likely to increase.

Fewer customers carry cash, so accepting credit cards can make shopping at your business easier and more convenient. Even considering credit card fees, increasing your volume is good for the bottom line. 

Decreases Workload

Chances are, you spend a significant portion of your time doing administrative tasks, like payroll or paying vendors. All of that time on those sorts of tasks is time you could be spending doing other work that benefits your business, like negotiating sales or brainstorming new products.

By using treasury management services, you can decrease the time you spend on money management, freeing you to focus on what generates income. 

Utilizing Treasury Management Services

Treasury management services can have a big impact on businesses of every size, but for small business owners short on time, they can be especially helpful. To get started, contact SouthEast Bank’s Treasury Management Services department. You can call 1-844-732-2657 or fill out the contact form, and a representative will reach out to you to discuss your needs and how SouthEast Bank can help. 

Note: Links to other websites or references to services or applications are provided as a convenience only. A link does not imply SouthEast Bank’s sponsorship or approval of any other site, service or application. SouthEast Bank does not control the content of these sites, services or applications.

Information contained in this blog is for educational and informational purposes only. Nothing contained in this blog should be construed as legal or tax advice. An attorney or tax advisor should be consulted for advice on specific issues.